Abstract:
On September 8, according to Nikkei Asia, BYD is expected to break its annual overseas sales target, with full-year sales expected to be close to 2 million vehicles, and plans to achieve an ambitious target of 2.5 million vehicles in 2027.
BYD Brazil Factory
According to multiple participating analysts, BYD management stated at Monday's performance briefing that the company is expected to achieve overseas shipments of 180,000 to 200,000 vehicles per month in the second half of the year, and has sold nearly 800,000 vehicles as of June this year.
This revised full-year sales guidance is approximately 33% higher than the original target of 1.5 million units announced by BYD founder and chairman Wang Chuanfu in June, and is also 25% higher than the updated target in last month’s mid-term report.
Deutsche Bank analysts wrote in a research report on Monday: "BYD management pointed out that overseas sales this year are limited by transportation capacity, otherwise sales may be higher." They also added that BYD will rely on continuing to increase market share, expanding its dedicated car transport fleet and expanding its localized production layout to achieve its overseas sales target of 2.5 million vehicles next year.
BYD has also benefited from growing global demand for electric vehicles after conflicts in the Middle East triggered an energy crisis that continues today.
"Brazil...Europe, Indonesia and Australia were strong markets," Citi analysts wrote in a research note on Monday, adding that there was still "ample room for market share gains" among different countries and regions.
BYD said in its interim report: "Overseas growth momentum will continue to be released, which remains an important pillar of the group's sales."
Citi said BYD expects it will take one to two years for factories in countries such as Brazil, Indonesia and Hungary to reach the cost efficiency of the currently dominant export model.
Comments